Core Insights - Nebius Group NV (NASDAQ:NBIS) is identified as a promising large-cap stock under $100 with significant upside potential, with analysts estimating over 33% upside based on a price target of $126 [1][2] - The company is well-positioned to expand its long-term margins and generate free cash flows due to its scalable operations and strong fundamentals, including a robust software platform and diverse customer base [2] - Northland Securities has reaffirmed an Outperform rating for Nebius Group NV, estimating a price target of $211, indicating a potential upside of over 123%, supported by strong visibility into power sourcing and a $17 billion AI infrastructure partnership with Microsoft [3] Company Overview - Nebius Group NV builds full-stack infrastructure for the global AI industry, designed to handle immense AI workloads, offering large-scale GPU clusters, cloud platforms, and developer tools through its own servers and data architecture [4] - The company operates additional businesses under the brands TripleTen, ClickHouse, Toloka, and Avride, contributing to its diversified operations [4]

Core Viewpoint - Morgan Stanley is advising investors to focus on companies with strong free cash flows as US equities are near record levels while economic indicators show warning signs [1] Group 1: Investment Strategy - The recommendation emphasizes seeking shelter in companies that demonstrate robust free cash flow generation [1] - This strategy is particularly relevant given the current market conditions where equities are at high levels [1] Group 2: Economic Indicators - Economic indicators are signaling potential risks, prompting a cautious approach to investment [1] - The juxtaposition of high equity levels and warning signs in economic data suggests a need for prudent investment choices [1]